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USD dollar bank account

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United Kingdom United Kingdom
simonthepieman
Kudos: 232
Joined: Sep 29, 2014
USD dollar bank account
23 Aug 2017
Does anyone know how to get a US business or current account so I can get amazon to pay out in USD rather than converting to EUR.

I pay my suppliers in USD so I get Stitched both ways.

S
Greece Greece
al3x1k0
Kudos: 50
Joined: Aug 6, 2017
Re: USD dollar bank account
23 Aug 2017
@simonthepieman
You can probably open a USD bank account with your UK bank.
United Kingdom United Kingdom
simonthepieman
Kudos: 232
Joined: Sep 29, 2014
Re: USD dollar bank account
23 Aug 2017
@simonthepieman

sorry that's an account registered in the US.

Amazon insist on converting the currency to the country your sending to.

so if you have a UK USD account they convert to GBP pay into that account and my bank converts it back in to dollars double whammy
Greece Greece
al3x1k0
Kudos: 50
Joined: Aug 6, 2017
Re: USD dollar bank account
23 Aug 2017
@simonthepieman

So it's the same policy as Paypal's. Are you a registered saler in US? If yes I think that you can open a checking account very easily even without physical presence.
United Kingdom United Kingdom
simonthepieman
Kudos: 232
Joined: Sep 29, 2014
Re: USD dollar bank account
23 Aug 2017
@al3x1k0

i don't live in the US hence the problem
Greece Greece
al3x1k0
Kudos: 50
Joined: Aug 6, 2017
Re: USD dollar bank account
23 Aug 2017
@simonthepieman

I can see that you're from UK but I was asking if you had a US tax ID (I believe it's called EIN) for your business, therefore you would've been able to open a business checking account.
Herts, England - Not specified -
Andy
Kudos: 12,333
Joined: Jan 1, 2001
Re: USD dollar bank account
23 Aug 2017
You get that with all the fx companies here:

www.webretailer.com/categories...ional-selling.asp?category=189

Better rates converting from USD to GBP, EUR etc but there's a fee for paying suppliers in USD.
Andy Geldman, Web Retailer
Please follow on Twitter, Facebook, LinkedIn or Google+
Greece Greece
al3x1k0
Kudos: 50
Joined: Aug 6, 2017
Re: USD dollar bank account
23 Aug 2017
@Andy

I was aware of Payoneer but I didn't know if he could have an account that would let him withdraw money to with hiccups. That's great news!
Herts, England - Not specified -
Andy
Kudos: 12,333
Joined: Jan 1, 2001
Re: USD dollar bank account
24 Aug 2017
Yes all those services work fine for withdrawing without currency conversion then offer a decent rate when bringing the money back home.

You just have to watch out for charges when paying suppliers, as you might think if you have USD10,000 in the account you can pay a supplier that without charge like you could with an ordinary bank account.
Andy Geldman, Web Retailer
Please follow on Twitter, Facebook, LinkedIn or Google+
United Kingdom United Kingdom
simonthepieman
Kudos: 232
Joined: Sep 29, 2014
Re: USD dollar bank account
24 Aug 2017
Dear All

Thanks for advise I have looked at Payoneer in the past at the time they wouldn't let you pay a supplier in USD currency. Like you could from a bank account,

Are we saying that they will now let you?

Does anyone know how there rates favor with a banks?

simon
Herts, England - Not specified -
Andy
Kudos: 12,333
Joined: Jan 1, 2001
Re: USD dollar bank account
24 Aug 2017
These services are competing hard against each other so I would check if Payoneer can do that now. Sometimes they let you pay suppliers, but only in a roundabout way because they still want to make their margin on you effectively withdrawing funds.

I believe Payoneer quote 2% above mid-market rates. With WorldFirst and CurrenciesDirect you have to login to check rates, last time I looked.
Andy Geldman, Web Retailer
Please follow on Twitter, Facebook, LinkedIn or Google+
United Kingdom United Kingdom
simonthepieman
Kudos: 232
Joined: Sep 29, 2014
Re: USD dollar bank account
24 Aug 2017
@Andy ~Still better to have US bank account if possible.
Greece Greece
al3x1k0
Kudos: 50
Joined: Aug 6, 2017
Re: USD dollar bank account
24 Aug 2017
@simonthepieman

A pure US account is the best option in any case undoubtedly.
United Kingdom United Kingdom
simonthepieman
Kudos: 232
Joined: Sep 29, 2014
Re: USD dollar bank account
24 Aug 2017
@al3x1k0

I did look into this a bit further Delaware is the state that you can remotely set up a business account in. You might have to go to sign the paperwork.
Greece Greece
al3x1k0
Kudos: 50
Joined: Aug 6, 2017
Re: USD dollar bank account
24 Aug 2017
@simonthepieman

Let us know if you proceed further. It'll be very useful information for a lot of people here.

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